The Ontario government is refusing to say how much money it’s paying Woodbine Entertainment in “transition” funding to keep horse racing alive at the Woodbine and Mohawk tracks.

The Dalton McGuinty government issued a statement Wednesday saying it was now another step closer to a sustainable horse racing industry with an agreement in principle with Woodbine.

“In order to receive transition funding, racetracks will have to meet accountability and transparency requirements,” a statement from Agriculture, Food and Rural Affairs Minister Ted McMeekin said.

But that clarity doesn’t extend to telling taxpayers how much money is involved in the deal.

“Negotiations are still ongoing with a number of racetracks and disclosing this information could impact those negotiations,” Susan Murray, a spokesman for McMeekin, said. “Because of this, dollar values aren’t being released at this time.”

Woodbine has scheduled a media conference Thursday to discuss the agreement.

“The transition funding provides much needed stability for the industry. We are pleased with the government’s commitment to ensure the long-term viability of horse racing and breeding, which has a proud heritage in Ontario. We look forward to working in partnership with government as we discuss the long-term future of a sustainable horse racing industry,” Woodbine Entertainment Group CEO Nick Eaves said in a statement.

An industry insider told the Sun the deal with Woodbine is positive for horse racing and will save jobs.

“Agreements with additional race tracks are anticipated to be reached in the coming weeks,” a government statement said.

The Dalton McGuinty government announced in 2011 that the Slots at Racetracks Program (SARP), which poured about $345 million a year into horse racing in Ontario, would come to an end.

The horse racing community immediately reared up, arguing it would lead to the death of the industry and quite literally tens of thousands of horses.

A panel appointed by the government supported the end of SARP but called for a substantial three-year fund to help the industry as it weaned itself off slots revenue.

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